Crown (CCK) Lifted to Sell at ValuEngine

ValuEngine upgraded shares of Crown (NYSE:CCK) from a strong sell rating to a sell rating in a research report released on Wednesday morning.

A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Co upgraded shares of Crown from a market perform rating to an outperform rating and set a $60.00 price target on the stock in a report on Monday, October 22nd. Bank of America increased their price target on shares of Crown from $51.00 to $57.00 and gave the company a hold rating in a report on Monday, September 24th. TheStreet upgraded shares of Crown from a c+ rating to a b- rating in a report on Wednesday, October 10th. Zacks Investment Research upgraded shares of Crown from a sell rating to a hold rating in a report on Monday, August 13th. Finally, Citigroup increased their price target on shares of Crown from $59.00 to $60.00 and gave the company a buy rating in a report on Friday, October 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Crown has an average rating of Buy and a consensus price target of $60.67.

CCK traded down $0.98 during midday trading on Wednesday, reaching $45.79. The company’s stock had a trading volume of 3,661,057 shares, compared to its average volume of 2,270,590. The stock has a market cap of $6.30 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.28 and a beta of 1.41. The company has a debt-to-equity ratio of 6.82, a quick ratio of 0.68 and a current ratio of 1.14. Crown has a 1 year low of $40.09 and a 1 year high of $62.27.

Crown (NYSE:CCK) last announced its quarterly earnings data on Wednesday, October 17th. The industrial products company reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.06. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.17 billion. Crown had a net margin of 2.81% and a return on equity of 59.62%. The business’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. Equities research analysts predict that Crown will post 5.2 EPS for the current year.

In other news, Director William S. Urkiel purchased 2,500 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were purchased at an average price of $40.25 per share, for a total transaction of $100,625.00. Following the completion of the acquisition, the director now directly owns 46,594 shares in the company, valued at approximately $1,875,408.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board boosted its holdings in Crown by 4.1% in the third quarter. Canada Pension Plan Investment Board now owns 214,311 shares of the industrial products company’s stock worth $10,287,000 after purchasing an additional 8,362 shares during the last quarter. HAP Trading LLC purchased a new stake in Crown in the third quarter worth approximately $882,000. CIBC World Markets Inc. boosted its holdings in Crown by 748.5% in the third quarter. CIBC World Markets Inc. now owns 54,712 shares of the industrial products company’s stock worth $2,626,000 after purchasing an additional 48,264 shares during the last quarter. FMR LLC boosted its holdings in Crown by 66.3% in the third quarter. FMR LLC now owns 5,846,001 shares of the industrial products company’s stock worth $280,608,000 after purchasing an additional 2,330,692 shares during the last quarter. Finally, CI Global Investments Inc. boosted its holdings in Crown by 7.9% in the third quarter. CI Global Investments Inc. now owns 7,396,847 shares of the industrial products company’s stock worth $355,049,000 after purchasing an additional 542,104 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

About Crown

Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.

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